Rbg Share Discussion Threads

[elsa7878] 29/6/2023 08:14

Naturally it's not ideal when the CEO is fired and rather than settle it goes public. On the basis of what I know her lawyers issued 2 writs on the day of RBGP's recent results and they were naturally obliged to respond and appoint external counsel.
She was on 450K with a 12 month notice period FWIW. This is in the company accounts.

[scubadiverr] 29/6/2023 07:56

Apologies, I misread your comment. Clearly we don't have all the facts, but I'm pretty sure RBL's employment lawyers would have checked NF's contract before acting.

[tomtrudgian] 29/6/2023 07:40

Scubadiverr: Constantine Law are in fact acting for RBG.

[shep22] 28/6/2023 20:53

The case is going to generate one hell of a noise, definitely not in the interest of shareholders no matter who wins.

[jonny_wright] 28/6/2023 18:57

This stock hasn't screamed buy in 3 years!

[quepassa] 28/6/2023 16:10

the first paragraph of yesterday's Law Society Gazette article is worth re-reading

[scubadiverr] 28/6/2023 16:10

Rosenblatt are also well versed in employment law, it's one of their areas of specialization. Just because Constantine Law have accepted NF's case doesn't necessarily mean they think she'll win.

[tomtrudgian] 28/6/2023 15:57

Well, she sold Brands Hatch for £196m gross, having paid £6m 10 years before when 23 (as she tells anyone who will listen), and will never never back down. My opinion is based solely on having met her socially a couple of times a long time ago.

The defendants solicitors, Constantine Law, are respected employment lawyers but to “terminateR21; without notice is both a crassly stupid word to use but surely illegal whatever her faults. RBG will lose big time if it comes to trial. It will not be even listed for some months yet.

Hopefully it never will be trialled, but can RBG settle? Their total borrowings are now in excess of their share capitalisation. So instead can we expect the bank foreclosing, and the staff walking? Where are the assets that bankers need? RBG are apparently profitable and many of Lion Fish eight remaining cases may succeed. Not enough for bankers.

What an absolute shame. I have invested since the IPO, until 6 months ago. The new CEO was an excellent innovative & forward thinker who was too much an arrogant dictator to understand, or be understood by, her senior staff.

RBG suggest in their initial defence filed last week that she called a coloured manager the N word in a board meeting. Also alleged cultural differences, and placing her private interests ahead of RBG’s. Two, out of ten remember, Lion Fish litigation cases failed dismally and were a huge factor. The CEO very strenuously promoted Lion Fish litigation funding, and found the MD Tets, I know. But was she responsible for the court decisions?

I have been watching RBG closely since selling up, thinking that Nicola Foulston might be selling her remaining shares in order to lower the share price so she could buy RBG whole. I doubt it now. Her ambitions are higher elsewhere. SELL

[rheumking1] 28/6/2023 15:31

I’m out too 15 k down - biggest loss for a long time , thanks to Nicola and the management team for looking after investors interests so well

[nakedmolerat] 28/6/2023 14:19

what a ratbag

[se81] 28/6/2023 13:40

Think this is getting really interesting especially with reference to the consideration paid for convex & memery

Fundamentals appear to be defunct so strikes me as a matter of biding time waiting for a huge clearout- eyes on the volume

Everyone assuming Foulston is dumping but I'm intrigued by the Rosenblatt pledge and calls being made on those shares (I remember shorters had a field day on similar in NMC) maybe a combination of both?

[peddlers] 28/6/2023 13:13

I've sold today as well, who knows where this is going in the short term.
My worst loss in a long time.

P

[aeonflux] 28/6/2023 12:54

Calling it quits on this one but will keep an eye on it. Too much baggage with the ex-CEO and large sell orders going through and lots of more attractive stocks out there. Good luck everyone.

[waterfall city] 28/6/2023 12:31

After her previouav brands hatch deal, sounds like she could buy the company outright at this price.

[clocktower] 28/6/2023 11:40

There are few winners bar the legal teams that represent the parties and those of us that will now profit on punting on the share from time to time.

It is likely this will drag out.

Good Luck and Good Trading.

[aleman] 28/6/2023 11:30

Consensus forward P/E of 3.3 and yield of 15% suggests it could be very good value if the business does not destroy itself. But what will the numbers actually turn out to be? It's a how long is a piece of string situation. At least the problematic news is now in the open for consideration and the healthy balance sheet should provide some support from here. Given consolidation in this growing sector, I suppose there is also hopes of a merger or takeover. I'm sure it could be a bargain at this price to some of the expanding competitors if it avoids complete implosion. Still waiting for any news from the company itself ......

[tradingcoder] 28/6/2023 11:19

Where's all the 'bargain at 30-40p so I've topped up' crew gone?

[tradingcoder] 28/6/2023 11:14

Only existing investors will ask these questions. Potential buyers will take one look, see too much risk v reward and move onto the nex stock in the list.

[quepassa] 28/6/2023 11:03

all very murky and deeply unpleasant stuff in my view which significantly impacts sentiment.

claims and counter-claims...


the question is what else may or may not come out in the wash.



if somebody were to ask me whether I think this share is going to pennies or pounds - I know what my answer would be.



all imo. dyor.
qp

[aleman] 28/6/2023 10:39

Thanks, Flagon.

Finally, a bit of clarity as they start to air dirty washing in public. This must have been well-known in legal circles. Why no RNS from the company? And still next to nothing about changes in holdings after some big volumes traded.

But does it affect business which was showing good growth? Does it shrink the generous receivables due on the balance sheet? Does it shrink the carrying value of investments? Does it justify shares trading at less than half book value? Is this really going to destroy the business as the share price almost suggests? The trading update will be interesting.

[tradingcoder] 28/6/2023 10:33

No-one invests on current earnings but future. Do investors feel confident about the future here? Share price says no

[flagon] 28/6/2023 10:30

Listed law firm hits back over ex-CEO’s High Court claim
By Bianca Castro
27 June 2023

The former chief executive of listed firm Rosenblatt Group – now RBG Holdings plc – breached her fiduciary and director's obligations by ‘preferring her personal financial interests over her duties', according to documents filed at the High Court. The allegations appear in a counterclaim to Nicola Foulston's action against her former employer following the termination of her contract with immediate effect earlier this year ... etc

Link :

[aleman] 28/6/2023 10:04

The early morning or late afternoon 50k sells just keep coming. They're not every day - maybe two out of three - but they just keep coming and stand out on the quieter days.

[qs99] 28/6/2023 09:40

"Since its IPO in 2018, RBG has grown Group revenues by more than three times whilst doubling [3] statutory EBITDA. Our final interim dividend of 0.5p per share has been confirmed today, and we look forward to the coming year with renewed optimism about the prospects for our Group" that was only a few months ago, so with no RNS, how could things be heading to dire news?

£15m adj EBITDA in last results, net debt highish, but c.1.1X EBITDA so hardly disastrous....

views? DYOR